IMF turns down S. Korea's growth forecast for 2009
25/11/2008 16:48
The International Monetary Fund (IMF) has turned down its prediction for
South Korea's economic growth rate in 2009 from 3.5 percent to 2.0 percent as
the ongoing global financial crisis adversely affecting South Korea's domestic
spending and exports, South Korea's Yonhap News Agency reported today.
It was
the second time that the IMF turned down economic growth forecast for South
Korea in the second half of this year. In July, the IMF had predicted the
country's growth rate in 2009 at 4.3 percent.
In a latest prediction, the
Korea Development Institute predicted the growth rate for next year at 3.3
percent, while the Samsung Economic Research Institute predicted at 3.6
percent.
In its Regional Economic Outlook (REO) for Asia and Pacific, the IMF
maintained this year's growth forecast for South Korea at 4.1
percent.
Xinhua
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